Jobs are to be lost at the Racing Post, the daily paper which serves horse racing and its followers, with its owner blaming loss of revenue caused by the Covid-19 crisis. The news is a blow to staff, most of whom had put up with temporary salary cuts to help sustain the business during its recent 76-day hiatus from print.
Having accepted those cuts, which averaged around 25% but went up to 50% for higher earners, staff were encouraged when the Post returned to print last week at the same time as racing resumed. The Guardian understands that salaries have now been restored for active members of staff, though some others remain on furlough.
But over the weekend, the Spotlight Sports Group announced to employees that a reduction in headcount could not be avoided. It issued a statement, saying it “plans to enter a consultation period with staff in the coming weeks to discuss the implications of the financial challenges facing the company”.
“Like many other companies, the Group is responding to the changed circumstances and loss of revenue resulting from the Covid-19 pandemic. Changes such as a diminished racing and sporting programme and the economic downturn mean Spotlight Sports Group needs to reorganise to safeguard the future of the business and as many of its employees as possible.
“The Group is determined that the quality of its content and products will not be compromised and is looking at every significant non-staff item of expenditure to try to minimise the number of job losses, but the reality is that it can no longer sustain the workforce it employed before the advent of coronavirus.”
The mood among staff is said to be an understandable mixture of fear and anxiety, and there is also some dismay that such action should be necessary, even allowing for the coronavirus-enforced shutdown. The business had previously remained successful in the face of the familiar challenges facing the news sector and a profit of £8m was made in 2018 according to accounts lodged in September.
News of the planned redundancies may come as a surprise to racing insiders, many of whom appear to believe the Post should be in robust health. The trainer Richard Hughes, who was a weekly columnist in the paper for some years, complained through Twitter about the cover price and the large amount of advertising in Saturday’s edition
Eight of the first twenty pages on @RacingPost paper today were advertising . It’s a bit disappointing considering its £3.90
— Richard Hughes (@RHughesracing) June 6, 2020
There was better news from a different corner of the racing media, as ITV reported its viewing figures for Sunday’s 1,000 Guineas peaked at more than a million viewers, compared to 653,000 last year. Following similarly strong figures for the 2,000 Guineas on Saturday, it seems that televised racing is benefiting from being one of the first sports back in action. ITV4 plans to show 26 races this weekend, including the Irish 2,000 Guineas on Friday evening.
Tuesday’s best bets
It’s Derrinstown Stud Derby Trial day at Leopardstown and Baby Zeus has already become a non-runner, leaving Aidan O’Brien with three of the five runners. It’s not an attractive betting race, though I expect to see another step forward from Russian Emperor, whose powerful finish at Naas in March was really memorable.
Whoever wins, a trip to Epsom next month is not to be taken for granted. The Irish Derby is just a week before the Epsom Classic this year and has quite an impressive prize fund in the circumstances, so there must be every chance of the winner staying in Ireland to have a cut at that. O’Brien already has Mogul and Innisfree high up in the Epsom betting, though neither of those is currently among the top three in the market.
At Haydock, I like the 7-2 about Will Sommers (4.50), one of the few with experience in this maiden. A half-brother to Sharja Queen, who was able to win on her second start as a two-year-old, he missed the break and was doing his best work at the finish on his debut in September. Gelded since, he’ll appreciate the step up in trip and should know more than the more fancied newcomers.
Haydock
12.45 King Leo 1.15 Daniel Deronda 1.45 Arctic Vega 2.15 Brookside Banner 2.45 She Can Boogie 3.15 Call Me Ginger 3.45 Be More (nap) 4.15 Finery 4.50 Will Sommers 5.20 Albaflora
Chelmsford
4.40 Furlong Factor 5.15 Wootton Creek 5.45 Healing Power 6.15 Villain's Voice 6.45 Queen Of All 7.15 Clap Your Hands 7.45 Que Quieres 8.15 What Will Be (nb) 8.45 Escape Clause
Wolverhampton
5.00 Twiggybark Creek 5.30 Kool Moe Dee 6.00 Sampers Seven 6.30 Batalha 7.00 Caravan Of Hope 7.30 Decora 8.00 Squelch 8.30 Robeam 9.00 Sir Gnet
Tom Dascombe and Richard Kingscote had a good day at Haydock yesterday, as so often in the past, and they have chances again today. Brookside Banner (2.15) can be excused her Listed flop on her second start last year and is a shade bigger than I expected at 8-1. She Can Boogie (2.45) appeals at 13-2 in the hope that what we’ll see today is the form she showed in the first half of last season rather than the second.
